GhostMarket has completed a US $2 million fundraise through the strategic and private sale of the GM governance token. In early 2022, the team intends to conduct a public token sale of two million GM through an initial DEX offering.
The cross-chain NFT marketplace has steadily grown throughout 2021, noting a 6% weekly increase in users and approximately $400,000 in trading volume each month. Since July 2021, GhostMarket has reported monthly revenues of $20,000 or more.
The fundraising round was backed advisors such as Julien Bouteloup, CEO of Stake Capital, and Jonathan Quali, who holds roles with various projects, to help attract organizations and entities in the blockchain industry. Investors in this round include MEXC Global, Dragon Roark, Neo Global Development, and others. Li Zhong Qiang, director of Dragon Roark, said:
We see enormous potential for GhostMarket to thrive and for $GM Token to differentiate from other utility and governance tokens. Furthermore, we are impressed by the capabilities and use-cases of the $GM token, which will allow users to pay for prioritized services such as verification, promote NFTs in special sections, and last but not least benefit from reduced trading fees on GhostMarket.
The GM token will be used for fees, governance, rewards, and promotions, and holds the potential for other future use cases. It will have a shared supply across the various blockchains supported by GhostMarket. GhostMarket will also host a swapping interface on the platform, so users can seamlessly swap GM between different chains.
Looking forward, GhostMarket intends to release more details about the IDO. The GM token will be available on centralized and non-custodial exchanges following the sale.
WalletConnect and Reduced Mint Fees
GhostMarket has also implemented support for WalletConnect via the Neon wallet. Ledger users can now buy, sell, trade, and store Neo-based NFTs with the address secured by their hardware device. GhostMarket has also released a guide for using WalletConnect.
Additionally, GhostMarket has lowered minting fees on Neo N3, BSC, and Phantasma, with fees on Neo N3 being reduced from 0.05 GAS to 0.025 GAS. The fee reduction went into effect on Dec. 8. Looking forward, the team anticipates denominating minting fees in fiat currency, which will have a floating price that updates at regular intervals.
The full fundraise announcement can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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